New Delhi [India], April 18 (ANI): With a vision to create a favorable ecosystem for electric mobility between India and Taiwan, the Society of Manufacturers of Electric Vehicles (SMEV) has signed a Memorandum of Understanding (MoU) with Taiwan External Trade Development Council (TAITRA).

The partnership aims at putting joint efforts for the development of electric vehicles (EV) through the exchange of information and technology.

The MoU will provide opportunities to discuss significant matters like Governments' EV policies, EV market trends, technologies, business and investment possibilities available in the EV sector.

It is also aimed at establishing a research and development sector in the country, giving a boost to EV manufacturers in India at the grassroots level.

Additionally, the MoU will provide local assistance to the representatives of both the associations for promoting their business interest in the country. The MoU is expected to bring in more investment and enhancement to the Indian EV industry.

Sohinder Gill, Director (Corporate Affairs), SMEV, said, "Our association with TAITRA will provide essential growth tools to the Indian EV sector and help the manufacturers in addressing the challenges with real solutions. This MoU underlines the commitment of both partners to the government's vision of 100 % electric mobility in India by 2030."

"As a part of the collaboration, both the parties would be undertaking several market studies on the EV sector to identify key issues and addressing them accordingly. The associations would be taking necessary steps that are feasible for the development of electric vehicles through trade promotion and economic cooperation between the two countries," said, Mr Walter Yeh, President, Taiwan External Trade Development Council.

In addition, TAITRA and SMEV would be organising an EV Forum during Taiwan Expo in India at Pragati Maidan on May 18. (ANI)